Gasoline can be considered as a final good if it is used by households or if it is sold in a gas station and purchased by a consumer. Also read:... View Article
Intermediate goods are used for preparing final goods. Final goods are directly consumed by the consumers. Also read: Difference Between... View Article
Milk purchased by a restaurant or a household for making cottage cheese or paneer can be considered as an intermediate good. However, if milk is... View Article
Yes, intermediate goods are non-durable in nature as they get changed to a different form during the process of preparation of final goods. Also... View Article
Intermediate goods are not durable in nature as they are used as raw materials for production of final goods and therefore lose their identity... View Article
Final goods are those goods that are suitable for direct consumption by the end user. They are also called consumer goods. Examples of final... View Article
Intermediate goods are those goods which are used in the production of final goods. Some examples of intermediate goods are wheat, soil, crude... View Article
It is important to distinguish between final and intermediate goods because at the time of calculation of GDP we add only the value of final... View Article
Final goods are those goods that do not require further processing and can be consumed or used directly by the end user. Final goods are also... View Article
The limitations of income statement are as follows: Income is reported based on the accounting rules and does not represent the actual cash... View Article
The following are the limitations of the financial statements: Financial statements are derived from historical costs. Financial statements... View Article
The distinct stages in accounting are as follows: Identifying and analysing business transactions Recording of transactions in journals... View Article
When the final accounts of a business are prepared it is necessary to provide adjustment entries so that correct accounts can be prepared.... View Article
Real account is an account that retains the ending balance at the end of an accounting period and carries forward that balance as opening balance... View Article
The three golden rules of accounting are: Debit the receiver, credit the giver Debit what comes in, credit what goes out Debit expenses and... View Article
